Funding round
Ledn Seed
Ledn, which works in digital asset lending services in George Town, raised $2.7M in a Seed round announced on 8 Feb 2021, led by White Star Capital. 8 firms took part. It is Ledn's first venture round on record.
$2.7M
Amount raised
Not disclosed
Post-money valuation
8
Investors
1 lead
Valuation
What this round says about the price
Ledn did not disclose a valuation in this round. It is Ledn's first venture round on record, 3 years after it was founded in 2018. It is 2.6% of the $103M Ledn has raised in the venture rounds on record. Ledn raised again 3 months later: a Series A round of $30M in May 2021, at $230M post-money.
Ledn's funding rounds
Ledn has 3 venture rounds on record and 2 other deals. This one is highlighted.
Investors
Who put money in
White Star Capital led the round with 7 other firms.
Lead investor
- backs 61 venture-backed companies new investor
Also in the round
- Darrow Holdings new investor
- Coinbase Ventures new investor
- backs 295 venture-backed companies new investor
- backs 62 venture-backed companies new investor
- Kingsway new investor
- Susquehanna International Group new investor
- RW3 Ventures new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
65 Seed rounds in Loans & Financing within a year either side disclosed an amount; the median was $3.0M, and this round was close to the median. The closest in time, other companies' Seed rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Loans & Financing | 1 Feb 2021 | $5.0M | not disclosed | not named |
| Loans & Financing | 3 Feb 2021 | $4.8M | not disclosed | Force Over Mass and VR Ventures |
| Loans & Financing | 27 Jan 2021 | $6.0M | not disclosed | QED Investors |
| Loans & Financing | 21 Mar 2021 | $5.0M | $100M | not named |
| Loans & Financing | 1 Mar 2021 | $3.0M | not disclosed | not named |
| Loans & Financing | 15 Mar 2021 | $1.8M | not disclosed | American Family Insurance Institute for Corporate and Social Impact and American Family Insurance Institute |
| Loans & Financing | 4 Jan 2021 | $1.0M | not disclosed | DisrupTech Ventures |
| Loans & Financing | 5 Jan 2021 | $328K | not disclosed | Unicorn India Ventures |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Ledn raise in its Seed round?
Ledn raised $2.7M in its Seed round, announced in Feb 2021.
Who led Ledn's Seed round?
White Star Capital led it, with Darrow Holdings, Coinbase Ventures, Global Founders Capital, CMT Digital and Kingsway and 2 more.
What was Ledn's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Loans & Financing?
65 Seed rounds in Loans & Financing within a year either side disclosed an amount; the median was $3.0M, and this round was close to the median.
Did Ledn raise again after this round?
Yes: a Series A round in May 2021 of $30M at $230M post-money.